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Tech Data CEO Rich Hume On The $5.4 Billion Deal That Will ‘Accelerate Our Future’
‘They have the ability to invest organically as well as acquisitively in Tech Data. So this is a scenario where we have the fortune of potentially being acquired by someone who has the opportunity to really accelerate our business moving forward,’ Tech Data CEO Rich Hume says of the deal to be acquired by Apollo Global Management.
Hume On The Record
The distribution market was rocked Wednesday when Apollo Global Management unveiled plans to buy Tech Data in a $5.4 billion deal that would take the second largest IT distributor in the country private.
Remaining in place will be Tech Data CEO Rich Hume, who joined the Clearwater, Fla.-based distributor as chief operating officer in 2016 and has been in the corner office since June 2018. Hume said the acquisition by Apollo will give partners better products and services through access to capital that the company could not duplicate on its own.
“Apollo has over $320 billion worth of assets under management. They have the ability to invest organically as well as acquisitively in Tech Data moving forward,” he told CRN. “So, this is a scenario where we have the fortune of potentially being acquired by someone who has the opportunity to really accelerate our business moving forward.”
He said what will not change is the company’s commitment to its partners in the 45-year technology journey that has led the company to this point.
“It's very attractive for partners and vendors because I truly believe it will allow us to accelerate our future, and then it's also very attractive for my Tech Data colleagues because this is a situation where we take our company as it is and then advance it into the future,” he said.